The company already accepts Dogecoin and other cryptocurrencies, but its CEO Adam Aron plans to expand the list of available digital assets for payment.
American cinema chain AMC will explore the possibility of adding a “meme” cryptocurrency Shiba Inu to payment methods. This was announced in an interview with The Verge by the CEO of the company, Adam Aron.
At the end of October, he published a survey on the social network Twitter, in which he asked users what cryptocurrency should be accepted by the cinema network. More than 153 thousand users took part in the poll, of which 81.4% voted for Shiba Inu.
TWITTER POLL #2: As you know, you can now purchase AMC gift cards using cryptocurrency, and our IT group is writing code so that soon we can accept online payments in Bitcoin, Ethereum, Litecoin and Dogecoin among others. Should we strive to take Shiba Inu too?
— Adam Aron (@CEOAdam) October 29, 2021
During the month, the number of Shiba Inu holders increased by 31%. In October, altcoin rose in price by more than 1000% and took 11th place in the list of the largest cryptocurrencies in terms of capitalization.
In early October, theater chain AMC began selling digital gift cards for Dogecoin and other cryptocurrencies. For this, the company has become a partner of the BitPay payment service.
Huge news Dogecoin fans! As we work to accept online crypto payments, now you can buy @AMCTheatres digital gift cards (up to $200 per day) with Dogecoin and other cryptocurrency using a BitPay Wallet. Accepted on our web site, mobile app, and in theatres. https://t.co/hPubbeq4YG pic.twitter.com/dra7e23tc8
— Adam Aron (@CEOAdam) October 5, 2021
AMC Entertainment owns about 1,000 cinemas in the United States and Europe. Despite the growth in revenue, the company’s losses in the second quarter amounted to $ 344 million. It was able to resume the work of all its cinemas only at the end of June this year.
At the beginning of this year, AMC was on the verge of bankruptcy due to quarantine restrictions. Many cinemas have been closed and studios have postponed premieres of their films.
However, social media users sparked a surge in the value of several stocks, including AMC. As a result, the network was able to place additional securities, raise funds and avoid bankruptcy.
